Here is a release from the White House on GM’s Chapter 11 filing as reported by the Washington Post. According to the release, today is just another day at the office. It is all in the “ordinary course”. Read it by clicking here.
And now GM will only have to sell 10 million cars per year to break even instead of 16 million cars per year. I don’t know about you BUT that sounds like a lot of cars that have to be sold annually just to break even.
Do you think GM will sell 35,000 to 40,000 cars today? That is what they have to do every single work day – including Saturdays – to break even!
Seems to me like a ploy by the Obama administration to foist their views of how automobiles should be on the American public.
This is ridiculous.
According to GM’s own press release: “Jan 21, 2009 … GM Announces 2008 Global Sales of 8.35 Million Vehicles ”
That was with Saturn, Hummer, Pontiac, etc. in the mix. How exactly is a smaller GM minus several brands going to sell 10 million cars to break even?
Come on, we (the public) now own what 60% of the company. How about some public service announcements on the CAPS website to help sell those 35,000 cars? That may also help “effectuate” the plan.
America does not need those cars. We don’t need their product. We need large sums of federal funds invested in state of the art public transportation systems in every major metro area in the US. Take Seattle as a beginning model.
A major factor in the health of any economy no news report will ever mention is the ability of individual’s to move about within the marketplace; mobility. There is a reason for the term “A New York Minute.” Because of the ability of the individual to be mobile in the marketplace that is NYC; one can accomplish an astonishing amount of things in the course of one day. It’s not that NYC requires one to move at that pace, it’s that one CAN move at that pace. Only in NYC.” (Hey, isn’t that the name of a board game
Of course the US gov. wants to keep the auto makers alive; without all those gas-guzzling, exhaust producing cars; guess who’s next in line to provide the mobility within the us system? That’s right; the government; egad! The US citizenry will have to unify and make it’s voice heard to hold it’s local and federal governments responsible for providing us all with inexpensive, state-of-the-art public transportation. This, more so than anything else, will determine the success or failure of the US going forward. We don’t have to give up the cars,(I love what the Italians do for example; their model. Take Ferrari as an example. One craftsman assembles the entire engine; comes in everyday, works on it for months, with an apprentice. Far superior to the assembly line. And, you don’t drive a Ferrari to work, well some do, but probably not on I-66. 395, or the beltway; or as I like to call it; “the Washington 500″)
Could write all day on this one. Lol.
One model is holding the entire mass produced automobile world by a thread; the VW Multivan Startline. Ever heard of it?
If not for that model, the current model year across the board would mark the official homogization of the assembly line automobile; Porsche included; Boxter (?should have been discontinued a decade ago/never made?) (Cayenne; should have never been made. And, yes ladies and gentleman; this year Porsche brings to you the four door Panamera. I tried, for so long, to hold on to that wonderful hope the first half of the 90′s gave us; when all the coolest cars ever produced were brand-new and on the street; Mazda RX7 Twin Turbo, Porsche 928 GTS, Toyota Supra Twin Turbo, Nissan Z T-tops Twin Turbo, Porsche 996 Twin-turbo, Mitsubishi Twin Turbo V6 VR-4 full-time AWD AWS only available in 5 speed manual 3000 GT ridiculous-beast-of-car-amazing-it-was-ever-made-straight-up-dangerous (which was the cited problem with most of these models), VW Corrado VR6 and G60, are you crying yet?, ok, Porsche 969 convertible and coupe including worlds first clutch-less shifting model; called then by Porsche the “tiptronic,” Alfa Romeo Spider Veloce, and Toyota MR2 Twin Turbo… Suddenly, all these models were discontinued all together at once (save the Acura/Honda NSX, thank you Honda, thank you Honda, Thank you Honda.) The major auto makers long ago turned their backs on the car fanatics around the world. VW is the last hold out, still there with the Multivan Startline (I’ll hold out hope on the new Scirocco; please. please. please, but still think master play for VW; Coraddo, Corrado, Corrado. I’ll end there, and we may shed a tear for the official end of the car company once called Porsche, and find hope for the future in the company that has always delivered it for us; Volkswagen. – Jeff
Ted
since when did you become a whiner ? Suggest another solution if you have it.
Last time I checked you were not able to save AOL and it might get to chapter 11 at some point.
Keep in mind that chapter 11 is a legitimate way to recover business. If you disagree work on changing the laws and dont complain about how the laws are used.
V